With August almost in the books I believe it is worthwhile to look at some specific sectors and stocks relative to the major market averages.
For a reference point the SPX index started the year at a level of 903.25. So with today’s close at 1028.93 the overall market is up almost 14%. It is more [...]
Tagged as:
AAPL,
Amazon,
American Express,
AMZN,
Apple,
AXP,
BAC,
Bank of America,
C,
Chrysler,
Citigroup,
Coca-Cola,
F,
FCX,
Ford,
Freeport McMoran,
General Motors,
Goldman Sachs,
GOOG,
Google,
GS,
JP Morgan Chase,
JPM,
KO,
Kohls,
KSS,
MCD,
McDonald's,
Monsanto,
MTLQQ.PK,
PG,
Proctor Gamble,
Target,
TGT,
VIX,
Wal Mart,
Wells Fargo,
WFC,
WMT
We are seeing large buying in Wells Fargo (WFC) puts today, causing implied volatility levels to increase. My source showed me what is called a put stupid, which is a spread where the trader buys puts and simultaneously buys additional puts. Specifically 50,000 of the August 17.5 puts were bought and 65,000 [...]
Tagged as:
Wells Fargo